It is well-known that the major target group of mortgage financing is the people who are not top earners of income. This requires that there exist a strata of population who cannot afford real estate, although the present value of such real estate is within their means. Successful functioning of the mortgage market requires a confluence of three factors: the level of income of such social strata, the market value of real estate that is affordable to this category of people, and availability of financial resources within the economy at affordable rates and terms of maturity. With this in mind, the reality of the situation in Armenian is not encouraging...

A nearly decade old cease-fire in the Nagorno Karabakh conflict is differently commented on by the Armenians and Azerbaijanis. The situation is more perceived as a "bonus" by both sides. The Armenian side makes a positive assessment of the situation, conditioned with the fact that this new generation of Nagorno Karabakh has no idea of how it is to live as a part of Azerbaijan. Eventually, as a new state progresses, it will have its definite role in a possible resolution while, at the same time, realizing that Azerbaijan takes all possible steps to mitigate it.

Apparently Armenia has its own place in the struggle against terrorism. Since our country has taken certain positions concerning anti-terrorism policy, Armenia's direct participation in international coalitions, particularly the one in and around Iraq, is an awkward issue to ponder. One thing is obvious enough: whether 2, 30, 50 or even hundreds of troops are going to be deployed is not important - this step is a signal.

By saying "Europe", one might conceive of a system anchored in the European values system (at the heart of the system - Roman law, Greek culture, Christian morality and Protestant ethics) and the primary principles of human and property rights factual protection that have proved to be viable and attained outstanding achievements for the time being.

The Western researchers assert that the South Caucasus have always been on the Western policy priority list. Nonetheless, the world is always faced with problems, other conflicts and threats that leave no opportunity for Western policy to be entirely focused on the South Caucasus. The reality is that our region stays off of the West's priority list.